Tag: part-time

Almost all the US jobs created since 2005 are temporary

Via Quartz

The conventional full-time job is disappearing.

Survey research conducted by economists Lawrence Katz of Harvard University and Alan Krueger at Princeton University shows that from 2005 to 2015, the proportion of Americans workers engaged in what they refer to as “alternative work” jumped from 10.7% to 15.8%. Alternative work is characterized by being temporary or unsteady—such as work as an independent contractor or through a temporary help agency.

“We find that 94% of net job growth in the past decade was in the alternative work category,” said Krueger. “And over 60% was due to the [the rise] of independent contractors, freelancers and contract company workers.” In other words, nearly all of the 10 million jobs created between 2005 and 2015 were not traditional nine-to-five employment.

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HOW WAGES CAN FALL DURING AN EMPLOYMENT “BOOM”

The MSM is gushing about the fantastic job numbers. We added 292,000 jobs in December according to the always accurate BLS. A critical thinking person might wonder how we could add that many jobs and have wages dropping. A critical thinking person might also wonder how we could add 2.5 million jobs in the last year and have wages rise only by a pitiful 2.5%. A critical thinking person might also wonder how GDP can be 0.5% if the jobs market is booming. A critical thinking person might also wonder how retailers could be reporting dreadful holiday sales and more importantly plunging profits if the unemployment rate is only a measly 5%. Luckily, there are no critical thinking people inhabiting the MSM. Just propagandists and mouthpieces for the vested interests.

Zero Hedge provides an excellent overview of why the “strong jobs market” meme is complete and utter bullshit. Shit jobs paying shit wages, with millions having to work two jobs, and the labor participation rate still at 1978 levels, does not make a strong jobs market.

Here are a couple other tidbits from perusing the BLS data:

  • In January 2015 the labor participation rate was 62.9%. After this supposed jobs boom, it is at 62.6%. This is at a 40 year low. Does that happen if jobs are plentiful?
  • Since January 2015 the BLS says we’ve added 1.8 million jobs. Over this same time frame another 1.4 million working age people have supposedly left the workforce because they evidently don’t need a job to pay their bills.
  • So lets get down to some facts. There are 252 million working age Americans in the country today. Only 150 million of them are employed. That means 102 million totally capable human beings are not working for some reason. The taxes paid by the 150 million pay for the non-productivity of the 102 million.
  • It gets better. Did you know the BLS considers you full-time employed even if you don’t work their defined level of 35 hours? My entire life, 40 hours was considered full-time. My work week has always pushed 50 hours.
  • Of the 150 million employed Americans, only 110 million of them work 35 hours or more. So now we have 110 million employed Americans supporting 102 million non-working drones and 40 million more who are working part-time.
  • Now for the cherry on top. Since September, the BLS and the MSM have been crowing about the tremendous job growth. The country has added 1 million jobs. It seems 387,000 of those jobs were people who were so desperate they needed to take a second job. There are now 7.7 million Americans with multiple jobs – the highest in history. Another 187,000 jobs added since September were self-employed. That’s right – Ebay entrepreneurs, Amway distributors, and lawn cutters have saved the nation. So 60% of all the jobs added were essentially desperate people trying to survive.
  • Since August the country has added 900,000 jobs. A little research reveals 471,000 of these jobs were part-time.

It’s amazing how a little critical thinking and research can reveal why the reported jobs numbers are a farce. Obamacare is bankrupting families and small businesses across the land. The only jobs available are shit, low paying, service jobs. What happens when the thousands of retail stores close in the next year, booting even the low paid retail clerks out into the street?

This is Obama’s recovery – real household income at 1989 levels. The Hillary propaganda machine and the liberal MSM will flog the recovery story to death, but it is complete and utter bullshit. I know it. You know it. And the stock market knows it too.

If this fake data point after 1,200 points of losses can’t generate a bounce, the shit really is about to hit the fan.

Why No Wage Growth: Multiple Jobholders Surge To Highest Since August 2008

Tyler Durden's picture

Submitted by Tyler Durden on 01/08/2016 09:23 -0500

As we noted earlier, while the headline payrolls print blew away consensus estimate, printing above the highest expectations, there was a rather unpleasant number in the data: nominal average hourly wages actually dipped by 1 cent to $25.24.

What caused this? There are three reasons.

First: the continued surge of minimum wage jobs, as seen in the chart below, which shows that in December another 36,900 minimum wage waiters and bartenders were added to the labor force, bringing the total to a new record high of 11.3 million.

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THE PART-TIME SHIT JOB RECOVERY CONTINUES

The all clear for Yellen’s rate hike was given this morning. The headlines blared the strong job growth confirms the economy is doing wonderful. That’s funny. A little digging into table A-9 reveals the truth.

Here’s your job growth since August of this year:

Total full-time jobs added: 3,000

Total part-time jobs added: 404,000

Can you say Obamacare?

Since July, the number of people holding multiple jobs has risen by 261,000.

Since September, the number of new jobs that were self-employed (selling shit on Ebay) increased by 247,000.

The number of part-time workers due to business conditions deteriorating jumped by 256,000 in November versus October. That surely is a sign of economic vitality.

The only category of education that saw a drop in their unemployment rate was those with less than a high school degree. Either they just dropped out of the workforce, or Obama hired them to process Syrian refugees.

Average weekly hours of full-time employees was 33.7 (that’s funny because I always thought full-time meant 40 hours – I need re-education in government drone speak), down from 33.8 last November. People always work less hours when the economy is recovering. Right?

Wage rates were flat and are up a whole 2% in the last year. Thank God there is no inflation in the things we need to live life.

The fact is that any jobs being added are shit service jobs paying shitty wages, with no benefits. The cost of Obamacare is going off the charts for people with jobs, as insurance premiums are jacked up by double digits.

Anyone on Obamacare now realizes its not really free, as the deductibles are so high, you can’t even use it. If there was a real jobs recovery, retailers would not be reporting dreadful results and consumer spending would be robust.

But this is all just a show. Yellen needs to raise rates so she can lower them when this ongoing recession is finally confirmed by the Deep State propaganda machine at the time of their choosing.

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